I thought, for a while, that the refreshing problem in dealbook was solved, but its not.
somebody have any news about it? the support didn’t reply me yet.
regards
Ilan
Main Chart
I would have liked the first candle’s wick to be smaller and the body of the star smaller as well. However, this pattern looked good enough for me to dive in.
One of the quickest trade that i took. This time i entered two lots one at the open of the candle and the second near the wick.
5m Entry/Exit
I’ve been studying the pdf and looking at charts and here is the first demo trade for me ever using this method.
Here is my thinking on this one, the NZD/USD 25 minute chart at 20:00 completed a Evening Star. Only problem is the mid-BB on the 25m chart is not going with us, but as I under we can still take a cautious look at the 5 minute chart, Starcs look good but it is not until 20:20 or 20:25 until the mid-BB goes flat. So the entry is there and the exit is when the price breaks the lower BB.
Ok tell me what I missed or did wrong, I’m a newbie.
Muthu, thanks for all your charts. I have spent the last four days looking at every trade you posted! Great stuff.
I uploaded my chart as an attachment through the forum, rather than through photobucket, because I believe it is an Incorrect pattern and I don’t want to confuse people.
Am I right in understanding that this is not a trade to have taken, because the 2nd candle’s wick is higher than the 1st (essentially making it a Harami, rather than a Piercing pattern)?
I have been reading this past weekend through a sizeable chunk of the old threads and have now read the updated PDF that was posted. I’ve got my MT4 setup and am ready to give it a go. I understand that patience is the name of the game, so I want to make sure I have this right.
Another question, also. There do not appear to be any restrictions on currency pairs. Is it valid to use this on any pair, or have some been ruled out?
Hi,
Yes this is a not a good pattern to trade. The wick of the second candle should be bigger than the first; watch out for the bolllinger bands the lower bb and middle bb are steeply against us. I will not trade this pattern as it is prone with high risks. You can trade as many pairs as you want/can as long as you locate the patterns on them on favourable/flat bbs.
Regards,
Muthu.
Chennai.
India.
Hi,
You made a very good attempt in your first trade, especially waiting for agreement in 5m chart. This is very important where your patience will be tested and your entry exit points on 5m looks great. The pattern looks good enough. Remember the 3rd candle’s body should be atleast 50% of the first one’s body. The only spot of bother was how your bbs looked when the pattern completed (?). However, definite caution is required as it looks like it was pointing upwards (not very steep though) when pattern formed. Ideally a flat or curving down bb is required. A good effort overall considering you just started.
Regards,
Muthu.
Chennai.
India.
Thanks for your compliments
What I see is that the first wick is lower then the second wick, which makes it an invalid pattern.
Also, are your times GMT? My 35m chart is not the same as yours. This is the pattern I see, which is not valid either.
I wonder if someone else can look at their charts and see why we have something different?
Another question, also. There do not appear to be any restrictions on currency pairs. Is it valid to use this on any pair, or have some been ruled out?
I think tymen1 looks at the following pairs: EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, USD/AUD, EUR/JPY, NZD/USD. I read the whole thread and I never saw anyone mention a pair to avoid.
I use IBFX and they have something called Sunday candle so you see this difference between patterns pronounced between different brokers during beginning of week (The time your broker starts the week makes this difference i believe). I would only look at broker feed as the possible reason. Ok, its 03 30 am here and off i go to bed. Happy trading asian session.
Regards,
Muthu.
Hi again,
How many candles can we wait for the 5 minute chart to agree? And are those candles on the 5 minute chart or the chart where we see the pattern first?
A big thank you to both Muthu and BlackSwan!
I had forgotten to consider BB direction, so that is something else I will have to remember to factor in.
BlackSwan - my times are GMT. I’m using Interbank, so perhaps that makes a difference as Muthu suggested? To clarify the time frames of the candles, the 1st begins at 18:55 and the 2nd at 19:30. What’s odd, though, is that 18h55m is 1135 minutes, which doesn’t divide evenly by 35 (my time frame). How does the Period Converter decide how to group the candles? If you create your offline charts at 10:00GMT and I make mine at 10:10GMT, will our candles be out of sync by 10 minutes?
Hi Blackswan
It is my understanding that the more candles that you wait on the time frame of the pattern the weaker is the signal. I would not trade a pattern after 4 or 5 candles. better to lose a trade than lose money, patience is my master 
Hello People
I’m currently building my charts for this system. I was wondering if there are any particular currency pairs that work well with this system or any that should be avoided
So far I have the six majors plus EUR/JPY, EUR/GBP and GDP/JPY
Any recommendations would be welcome:D
Simon
Hi Simon
you can trade this strategy on any pair, the more pairs you can watch then the more patterns to see just keep in mind the different volatilities and spreads of each pair
best regards
Thanks kockneerebel
I think I’ll add acouple more pairs tonight and start trading tomorrow:D
Simon
Best of luck I trade 6:00am - 6:00pm gmt if I can be of assisstance please let me know
best regards
Dave
Hi guys
Where to start :eek:
I have read Tymens first 2 threads in their entirity 
:eek:
What a read…it was like ‘War and Peace’
a trully riveting read from start to finish…I just couldn’t put it down.
I have to thank everyone for their contribution but of course, special thanks go to Tymen himself. 'm only sorry he’s not here so I can thank him personnally.
Altho I’m new to forex and haven’t got a platform and broker yet, I feel like I know UM inside out and am eager to get started with a practise acount to see if I can make it work.
If you all dont mind I would like to ask a couple of questions
-
Do we have any idea of how many people are using this method currently?
2 If you are using it, how many trades are you finding per day(using 8 pairs as per Tymen)?
3 What is your average pip gain per trade?
-
has anyone ever hit the PCI?
Oh and Thabks to Dodge for his videos, they’re really helpful.
Cheers guys
- Many ppl i guess:D!
- 6 pairs/majors, 30/60 tf = 1-10 trades, 5 good 5 bad ROUGHLY!
- 3 lots 30tf i use tp of 10/20/30 pips, and 60tf 40/50/60.
- Yes, when you are hoping that a bad pattern is a good one:o!
